Detroit Bureau on Twitter

Posts Tagged ‘BMW sales’

BMW’s 3Q Profit Slides 1.2 Percent

Vehicle sales strong, other factors cause slippage.

by on Nov.04, 2014

BMW's 2014 X5 continues to set the pace for luxury SUVs and brought in big profits to the maker in the third quarter.

BMW AG’s profits fell slightly in the in the third quarter despite strong sales of its vehicles, particularly its X5 sport-utility vehicle made in South Carolina. The company sold 509,669 cars worldwide, an increase of 5.8%.

The Bavarian automaker’s net profit dropped 1.2% in the quarter due to non-cash losses on foreign currency hedges and the reduced value of a stake in a key supplier. The company is saying it expects to be more profitable this year than it was last year.

Award-Winning News!

Net profit of 1.31 billion euros ($1.64 billion) for the third quarter ending Sept. 30 fell short of analyst expectations for 1.36 billion euros, reported by the Associated Press. (more…)

Blistering August Sales Swell Luxury Vehicle Numbers

Frenzied month may mean slower September

by on Sep.03, 2014

Lexus captured the August luxury car sales crown. It's the second month in a row the Japanese brand has done so.

Luxury car sales remained brisk during August as Mercedes-Benz, BMW and Lexus as well as Audi all posted healthy sales increases last month in what has become an increasingly contest sales.

As it did in July, Lexus bested its German rivals for luxury sales leadership by selling 32,809 cars and utility vehicles. Lexus sales increased 10.1%.

An Ideal Auto News Source!

“It was a great market from top to bottom in August,” said Jeff Bracken, Lexus group vice president and general manager. “Lexus had its second straight record-setting month as both passenger cars and luxury utility vehicles posted solid gains.” (more…)

BMW Earnings Beat Forecast

Maker anticipates big jump in sales and earnings for full year.

by on Aug.05, 2014

BMW is counting on a wave of new products, such as this M4 Convertible, to help bolster sales and earnings for the rest of 2014.

BMW’s net earnings jumped more than 27% during the second quarter, and the German maker confirmed its earlier forecast of a big jump in sales and profits for all of 2014.

The largest of the luxury car manufacturers, BMW earned 1.77 billion Euros for the April-June period, or $2.38 billion, up from 1.39 billion Euros a year ago. The automaker sold 5.3% more vehicles through its BMW, Rolls-Royce and Mini brands, a total of 533,187 cars and crossovers.

Global Perspective!

But revenues didn’t quite keep pace, climbing a more modest 1.8%, to 19.9 billion Euros. The strong Euro didn’t help. And BMW has been ramping up spending in a market that is demanding more high-tech features, and solutions to demands for better fuel economy and lower emissions, it said. (more…)

BMW Buckling Down, Looks to Cut $5.5 Billion

German maker wants to keep margins between 8% and 10%.

by on Jun.19, 2014

BMW CEO Norbert Reithofer says he wants to cut as much as $5.4 billion in costs between now and 2020.

Rising costs and the subsequent squeeze on profit margins has BMW CEO Norbert Reithofer declaring war on costs: a nearly $5.5 billion war.

The Bavarian Motors boss wants to cut between $4 billion and $5.4 billion in costs to keep the German maker’s profit margins between 8% and 10% in the coming years. In 2013, BMW reported a margin of 9.4%.

Subscribe and Stay on Top!

One area of bloat is the Mini brand as well as the development of the 1-Series, which should see costs come down some as it’s in production now, according to multiple media reports. BMW said in a released statement would seek to lower annual expenses “by several hundred million euros a year.” (more…)

U.S. Auto Sales Heating Up with the Weather

New models and trucks help automakers to strong April.

by on May.01, 2014

The Audi A3 helped the German maker to a 19% sales increase in April.

New models demonstrated their value to automakers in April as the latest cars and trucks launched over the past several months combined with a break in the frigid weather pulled buyers into showrooms, helping keep the annual sales rate at more than 16 million units for the second consecutive month.

Audi, Toyota, Subaru, Mercedes-Benz, Chrysler, Jaguar Land Rover and Kia Hyundai posted double digit sales increase in January thanks in part of the launch of new or replacement models. General Motors, which was deluged with bad news, also benefitted from the strong sales of its latest models. Luxury vehicles also enjoyed a strong April, with Audi among those reaping the rewards with a 19% increase.

A Profitable News Source!

“The launch of the all-new A3 Sedan gives Audi an even broader product portfolio and the opportunity to reach more luxury buyers in the premium compact segment,” said Mark Del Rosso, executive vice president of Audi of America. “In its first month of retail sales, the Audi A3 was a top seller in April, with over 2,000 vehicles sold.” (more…)

Audi Takes Global Luxury Sales Lead

But BMW isn’t ready to concede defeat.

by on Mar.11, 2014

The redesigned Audi TT makes its Geneva debut.

Two months does not a year make, but in a significant breakthrough Audi AG is claiming to hold the lead in the hotly contested global luxury car maket.

The largest of the luxury brands of Volkswagen AG, Audi has been gaining ground on traditional rivals BMW and Mercedes-Benz in recent years, and is hoping to solidify its first-place position with a flood of new products planned for the coming year, an assortment of which were previewed at the Geneva Motor Show last week.

A Sporting Choice!

For the first two months of 2014, Audi delivered 242,000 vehicles, giving it a modest 383-unit lead over BMW.  It fell 429 cars short of its Bavarian rival during the same period last year.

And Audi intends to widen the lead, Chief Executive Officer Rupert Stadler said Tuesday at the brand’s headquarters in Ingolstadt, Germany, promising that, “We will increase deliveries in all regions of the world, including Europe.”

But Audi’s rivals aren’t ready to concede defeat.

(more…)

BMW Group Sets Sales Record for Third Quarter

Sales for first nine months also reach new highs.

by on Nov.06, 2013

The BMW Group reported record sales for the third quarter despite challenging times in Europe.

The BMW Group income increased 3.2% during the third quarter as its unit sales jumped more than 10% despite the challenging and volatile business conditions, prevailing across Europe.

“Reported figures for both the third quarter and the nine-month period have developed positively despite the higher level of expenditure on new technologies and a challenging market environment in Europe. We have recorded best-ever worldwide sales volume figures to date and remain within our targeted margin range for the Automotive segment,” said Norbert Reithofer, chairman of the Board of Management of BMW AG.

Performing for You!

Based on its strong performance in the first nine months of the year, the BMW Group also reaffirmed its outlook for the current year, Reithofer said. (more…)

Cadillac, Lincoln Stuck in Neutral

Domestic luxury brands gain little traction in 2012.

by on Jan.04, 2013

Cadillac is hoping to see the ATS win North American Car of the Year honors, which could put its sales push back into gear.

The long-promised revival of Detroit’s two main luxury brands failed to materialize in 2012 despite the launch of some major new products that generated largely positive reviews.

Both Ford Motor Co.’s Lincoln and General Motors’ Cadillac wound up losing market share last year – 4.1% and 1.7% respectively — despite the makers’ anticipated improvements . Only the near-luxury GM brand Buick posted a modest, 1.6% gain for the year, though company officials insist the real test will come in 2013.

Auto News From a Source You Trust!

That’s quite likely the case, says David Sullivan, of AutoPacific, Inc. “Looking back at 2012, I would say they were semi-disappointing and if we didn’t know there was promising new product in the pipeline it would be pretty bleak.”

(more…)

BMW Earnings Up 14% Despite European Slump

But CEO warns of “headwinds” ahead.

by on Nov.07, 2012

BMW CEO Reithofer sees growing trouble ahead as the European market continues to struggle.

Despite the weakening European economy, BMW AG posted another strong quarter, with earnings up 14% but expected to slow in the months ahead.

The world’s largest premium automaker said its earnings before interest and taxes came to 2 billion Euros, or $2.6 billion, between July and September, led by growth in the U.S. and China as well as by the strong performance of its lending subsidiary. That was well ahead of the 1.74 billion Euros consensus from industry analysts. Net income was up 16%, to 1.29 billion Euros.

Feed Your Need for News!

Nonetheless, Chief Executive Norbert Reithofer warned that conditions were weakening across its home markets in Europe and could offset gains in other markets.

“Like the rest of the sector, we are now beginning to feel some headwind,” he said in a statement. “We have to acknowledge that we are all facing dramatic challenges and uncertainties in the global economy today.”

(more…)

BMW Diverting Product from Europe to US

Maker hopes US can offset European sales slide.

by on Oct.18, 2012

Coming at you. BMW will divert more European-made vehicles -- such as the new 7-Series - to the US market in the months ahead.

Already locked in a bitter battle with key rivals for dominance in the North American market, don’t be surprised to see BMW launch even more aggressive marketing efforts in the final months of 2012 – and it will soon get the products it needs to maintain a position as number one in the U.S. luxury segment, it appears.

It’s a reversal of the maker’s recent strategy that had it actually holding back on U.S. product availability due to a weak dollar that made it more expensive to import European-made vehicles.

But that was before the economy of the European Union began to unravel.  And with countries like Greece, Spain and Italy in deep recession while even Germany has to retrench there’s significantly less demand for BMW’s blend of mid to high-end luxury products.

http://www.thedetroitbureau.com/about/subscribe

Subscribe Now! It's Free!

As with competitors like Mercedes-Benz and Audi, BMW has had to adjust line rates in recent months to reflect downward demand. But it is now planning a different strategy. With the U.S. automotive market leading this country out of recession BMW thinks it can up shipments of European-made products to State-side showrooms, confirmed global marketing chief Ian Robertson.

(more…)